Shares of this small-cap stock dealing in Household & Personal Products hit the 20 percent upper circuit and recorded a fresh 52-week high mark. The same is observed after the company published Q1 results pertaining to FY23-24.
The stocks of Jyothy Labs Limited were trading in the green in Tuesday’s session having a flat start during the initial trading hours. Post 11:00 am, the scrip witnessed a sudden jump in stock prices and, currently, it is locked in the 20 percent upper circuit at Rs 290.90 apiece. The locked price is recorded to be the stock’s fresh 52-week high mark.
Such sharp movements in the company’s stock prices today are observed after the company, through a regulatory filing with the BSE dated 25th July 2023, published financial results for the quarter ending June 2023, i.e., Q1FY23-24.
On a sequential basis, the basic financial parameters such as the operating revenues as well as after-tax profits have shown growth in numbers. The operating revenues moved up from Rs 616.95 crores during Q4FY22-23 to Rs 687.10 crores during Q1FY23-24, and, the after-tax profits, in congruence with the pattern, increased from Rs 59.26 crores to Rs 96.25 crores representing an increase of 62.4 percent.
Year-on-Year, the above-mentioned metrics showed favorable results with the operating revenues increasing from Rs 597.20 crores during FY21-22 to Rs 687.10 crores in FY22-23, and, the after-tax profits moving from Rs 47.73 crores to Rs 96.25 crores indicating an increase of approximately 102 percent.
Historically, the company has reported an increase in the basic profitability metrics such as the return on equity (RoE) as well as return on capital employed (RoCE) with the former increasing from 11.22 percent during FY21-22 to 15.47 percent in FY22-23, and, the latter taking a shift from 13.89 percent to 18.44 percent.
As per the shareholding data available for the June 2023 quarter, the Promoters hold a 62.89 percent stake, and the Foreign Institutional Investors (FIIs) hold a 13.97 percent stake in the company.
Jyothy Labs Limited is a company based in India that is engaged in the business of manufacturing as well as distributing fast-moving consumer goods (FMCG) categorized into dishwashing, fabric care, personal care, etc. The company’s product portfolio comprises beauty soaps, scrubbers, and other body care products that jointly account for a majority of the company’s revenue.
Written by Amit Madnani
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